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Jabil’s scale, diversification cited in new report

September 2, 2020 - Jabil, a manufacturing services business and the largest company headquartered in St. Petersburg, will continue to benefit from an ongoing shift from outsourced manufacturing, a new report from Moody's Investors Service said. The credit agency report was issued in connection with Jabil's shelf registration, offering debt and equity securities. Moody's assigned a Baa3 rating, a lower-level prime rating, to the offering. Moody's also affirmed Jabil's Baa3 rating and stable outlook. The rating affirmation reflects Jabil's (NYSE: JBL) growing scale and increased diversification and those trends are expected to continue once the pandemic subsides, Moody's said in an Aug. 31 report. Moody's expects the company to benefit from its strategic collaboration with Johnson & Johnson, as well as expected growth in packaging of groceries and dry goods.

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